The price of gold keeps making new all time highs. And it’s leading to new excitement about gold projects in the United States.
What’s happening:
- Gold prices have continued to make new all time highs, which has led to an influx of new capital betting on publicly traded gold exploration companies with projects in the United States of America
Who is making moves:
- Provenance Gold (CSE: PAU) recently confirmed that the gold mineralization at their first drilling target extends to depths beyond what was previously known at their flagship Eldorado gold project in Oregon
- Perpetua Resources (NASDAQ: PPTA) recently announced they have received official federal approval for their historic Stibnite Gold project located in Idaho
Going deeper:
- Oregon has been a relatively neglected region for gold exploration, which has begun to change following Paramount Gold (NYSE: PZG) previously receiving a county permitting approval to move closer towards bringing their mine into full scale production as well as landing a strategic investment from legendary mining financier Eric Sprott
- Provenance Gold’s flagship Oregon property has a historical resource estimate of containing just under two million ounces of gold and was originally optioned to Provenance by a subsidiary of Gold Royalty (NYSE: GROY)
- Perpetua Resources Idaho property also is believed to have significant antimony deposits, which has become more relevant following the Chinese government announcing they will be restricting the future exportation of antimony which is a critical metal for military purposes
By the numbers:
- The price of gold is up +21% over the past 6 months and is up +41% over the past 12 months
The intrigue:
- The rising price of gold has also led to some of the world’s largest gold producers such as Barrick Gold (NYSE: GOLD) seeing an uptick in revenue which is leading to speculation that mining giants may soon start to ramp up their investments into publicly traded exploration companies and promising new projects
